Health Care Finance

During the years before 1920, doctors in the United States were paid poorly. The cost of lost wage was greater compared to the expenses incurred in treating a particular disease. In 1993, Bill Clinton came up with a plan to guarantee the public and health practitioners with full advantages that could not be taken away (Preskitt, 2008). Clinton’s Plan aimed to ensure that the costs of healthcare were controlled for businesses, the public, and the nation generally in a bid to improve the health care quality in America and simplify the system of health insurance as well. However, Clinton’s Plan did not work.

The rationale is that in the early years of introduction to health insurance, many organizations were not ready to embrace it. The insurance industry took time to develop. The main reason for its success was the fact that it made it possible to maintain business model and made profits for the organizations. It is worth noting that the development of the industry was not as a result of the demand for improved and high-quality services by employers or the public (Preskitt, 2008). As health professionals, it is essential to provide quality healthcare services to the public without permitting the government to cater to the health of the citizens using a single-payer system.

In the beginning, medical professions were against Clinton’s plan of managed care, Medicare, and insurance in general. Health professionals initially rejected Medicare, which had an episode-of-care model of reimbursement and began as a customary fee and reasonable profile. The development of the medical, industrial complex, including device and pharmaceutical companies, has led to a rapid increase in costs. It is essential to make plans and put up actions to ensure that the health care system does not collapse in future.